March 18th, 2007 by
Tom Vass
The Scary Current High Tech IPO Market
In his Forbes.com column, Entrepreneurs: Walk, Don’t Run, To The Equity Markets, (03.14.07), Brian Hamilton, discussed the difference between today’s IPO market and earlier IPO markets.
As little as 20 years ago, Hamilton noted that companies that were going to issue stock generally had be profitable. A big difference between now and then, said Hamilton was that “Companies needed to show roughly four years of profitability before they sold shares to the public.â€
Then, came the Dot.Com era, where profits did not seem to matter, noted Hamilton. Now, in the current era of IPOs, Hamilton describes that the IPO marketplace looks very much like the DOT.Com period that collapsed in March of 2000.
Posted in Economics and Technology, Technology Investment Strategy |
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March 12th, 2007 by
Tom Vass
Those That Take You Out Of The Poop Are Not Necessarily Your Friends My favorite Russian proverb describes the dilemma of a injured young bird on the frozen Russian steppes. A Cossack finds the bird, and puts it in a fresh pile of Yak dung to keep it warm. Later, a hungry wolf comes by, hears the bird singing, finds the bird and eats it.
Like all good Russian proverbs, this one has 3 morals: Those that put you in the poop are not necessarily your enemies. Those that take you out of the poop are not necessarily your friends. And for heaven’s sake, if you are up to your neck in a pile of poop, do not start singing loudly.
In her story about the economic woes of Michigan, (Michigan Meets Tobacco Road as Toyota Goes South: March 7 Bloomberg), Doron Levin noted how the Democrats, traditional friends of the working classes, are not doing their friends in Michigan any favors.
“The fact that a majority of Democrats — and even a few Republicans — are willing to bestow more power on unions such as the UAW suggests that they don’t know, don’t understand or don’t care why Detroit automakers are in such deep trouble in their home market,†Levin writes.
Posted in Economics and Technology, Regional Technology Innovation |
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